XTX Topco Ltd Purchases New Holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA)

Key Points

• XTX Topco Ltd has acquired 25,609 shares of Rush Enterprises, Inc. valued at approximately $1.368 million, showcasing increased institutional interest in the company.
• The company has declared a quarterly dividend of $0.19 per share, representing a slight increase from the previous quarter's dividend, with a yield of 1.4%.
• Rush Enterprises has reported earnings of $0.90 per share, exceeding analyst expectations, coupled with a revenue of $1.93 billion for the last quarter.

XTX Topco Ltd purchased a new stake in shares of Rush Enterprises, Inc. (NASDAQ:RUSHA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 25,609 shares of the company's stock, valued at approximately $1,368,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Rush Enterprises by 2.7% in the first quarter. Principal Financial Group Inc. now owns 310,294 shares of the company's stock worth $16,573,000 after acquiring an additional 8,106 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Rush Enterprises by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,893 shares of the company's stock worth $5,427,000 after acquiring an additional 6,210 shares in the last quarter. Bridges Investment Management Inc. grew its position in Rush Enterprises by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 35,749 shares of the company's stock worth $1,909,000 after acquiring an additional 18,831 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Rush Enterprises by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,353 shares of the company's stock worth $2,315,000 after purchasing an additional 2,131 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Rush Enterprises in the first quarter worth $1,087,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Michael L. Goldstone sold 4,500 shares of Rush Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $52.10, for a total transaction of $234,450.00. Following the transaction, the senior vice president owned 12,510 shares in the company, valued at approximately $651,771. The trade was a 26.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jason Wilder sold 748 shares of Rush Enterprises stock in a transaction on Monday, May 19th. The shares were sold at an average price of $56.08, for a total transaction of $41,947.84. Following the completion of the sale, the chief operating officer owned 84,672 shares in the company, valued at approximately $4,748,405.76. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,731 shares of company stock worth $303,634. 12.28% of the stock is owned by corporate insiders.

Rush Enterprises Stock Performance

RUSHA stock traded down $0.59 on Friday, hitting $53.55. The company had a trading volume of 680,442 shares, compared to its average volume of 396,214. Rush Enterprises, Inc. has a 12-month low of $46.30 and a 12-month high of $65.43. The company has a current ratio of 1.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.23. The stock's 50-day simple moving average is $51.85 and its 200 day simple moving average is $53.77. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.51 and a beta of 0.85.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Rush Enterprises had a net margin of 3.73% and a return on equity of 13.29%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. As a group, equities research analysts expect that Rush Enterprises, Inc. will post 3.91 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. This is a positive change from Rush Enterprises's previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. Rush Enterprises's dividend payout ratio is presently 20.51%.

Analysts Set New Price Targets

RUSHA has been the subject of several recent analyst reports. Stephens lowered their price objective on shares of Rush Enterprises from $63.00 to $61.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th.

Rush Enterprises Company Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.